Shell executives are being sued personally for “inadequate” environmental strategy by environmental lawyers group ClientEarth who claim the company is unable to meet climate targets.
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The plaintiffs, token shareholders of Shell, are suing under UK companies law and are backed by a group of large pension funds and other institutional investors.
The oil company is already on a tightrope, facing a Dutch court order to cut carbon emissions by 45% by 2030.
It would be, according to The Guardian, the first global case seeking to hold directors accountable for failing to prepare their company for the transition to clean energy, thus exposing the oil company to financial risk.
“Shell may be making record profits now, but the end of long-term fossil fuels is written in the sky,” said ClientEarth attorney Paul Benson.
According to The Guardian
